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Steelworkers Ratify Four-Year Contract with ArcelorMittal
10/22/2008 - Members of the United Steelworkers overwhelmingly ratify a new four-year contract with ArcelorMittal in a mail-in secret ballot vote that concluded Tuesday.
Members of the United Steelworkers have overwhelmingly ratified a new four-year contract with ArcelorMittal in a mail-in secret ballot vote that concluded Tuesday. The new contract, which is retroactive to September 1, covers about 14,000 USW members employed at 14 ArcelorMittal plants throughout the United States.
“Reaching this agreement was a struggle that required tremendous support and solidarity from our members on the shop floor,” said USW International President Leo W. Gerard. “The hard work of our members was instrumental in rescuing the industry five years ago and putting it back onto the road of profit that it rides today.”
The new contract provides a one-time $6,000 cash payment plus a $1/ hour general wage increase retroactive to September 1, as well as four percentage wage increases in years two, three and four. The contract improves the existing medical, prescription drug, dental, vision, life insurance and Sick and Accident benefits for all eligible employees. It also secures continued funding for a Voluntary Employees Beneficiary Association (VEBA) Trust to provide benefits for retirees who lost their healthcare coverage in bankruptcy court under previous employers.
With the new contract, retiree premiums for all retirees will be reduced by approximately 35% and will remain fixed for the term of the proposed Agreement.
The agreement also requires the company to make significant capital investment in its domestic plants to keep its mills at the state of the art so they remain competitive in the global steel market. The agreement also provides for formation of an "Energy Efficiency and Carbon Emissions Task Force" where the union and company would work together to protect and benefit the industry and the environment.
